The weekend video update is out!
A lot of trade ideas & education this weekend :)
Watch here (timestamps in description):
Trading rule #1: Wait for your signals.
Trading rule #2: Let price action tell you what to do.
Trading rule #3: Quantify your risk on every trade.
Trading rule #4: Accept small losses early or let a winner run.
Trading rule #5: Stay disciplined and follow your system.
$TSLA $AMD $CAT $JMIA for all the trigger traders and using tradingview, we got something for yall too!
basically you put the triggers and it will highlight them as they hit so you can see all of them in one place. Still got some bugs but its getting there.
$UPST Falling wedge “holy grail” setup. Price finding support at the volume shelf and 21 ema. Volume drying up within wedge as price consolidates. Notice the volume on up days compared to those in days. What you want to see!
Chart courtesy of @TrendSpider
R/R is seriously everything. You can have a really low win rate and still be profitable. For example, if your win rate is 20% and you always take 5:1 R/R trades, you'll lose 4/5 trades and still be profitable.
4 L * 1 risk = 4 points lost
1 W * 5 reward = 5 points won
5 - 4 = +1